Also known as instant or real-time payments, fast payments offer the instant transmission of a payment message and the immediate availability of funds to the beneficiary 24/7/365. In order to facilitate the broad and safe adoption of fast payment systems (FPS), operators and implementers have a variety of tools at hand. With the rise of point-of-transaction innovations and account aliases (both old and new), FPS can reach new populations via existing channels. Quick response codes (QR) and proxy databases can enable more users in new areas to transact safely and securely in near real time.
In this webinar, Colin Colter (Payments Consultant, World Bank) and Claudio Ceresani (Senior Payments Consultant, World Bank) discuss major trends and challenges in designing and operationalizing QR codes and proxy databases in fast payment systems.